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Qantas prepares to pour more cash into Jetstar Japan

October 31, 2013 Aviation, Headline News No Comments Email Email

egtmedia59Qantas is about to pour more money into Jetstar Japan, according to latest reports. 

Sources are quoting Nikkei as saying that Jetstar Japan will raise 11 billion yen (AUD 118 million) next month from Qantas and Japan Airlines, which EGT_Artical Banner A 250x250each hold stakes of 33.3%.

According to a Sydney Morning Herald report, Jetstar Japan’s two other shareholders, Mitsubishi and Century Tokyo Leasing Corporation (which hold 16.7% each), are not expected to participate in the private placement.

Jetstar Japan. Launched in July last year, has grown to become the largest budget airline in Japan with a fleet of 17 A320 aircraft.

Jetstar recorded AUD 50 million in start-up losses from Jetstar Japan and Jetstar Hong Kong in the year to June, the Herald reported.

Macquarie Equities has estimated that Jetstar Japan is losing about AUD 50 million a year, the paper added.

Unlike the two low-cost carriers affiliated with All Nippon Airways, Jetstar Japan has codesharing and frequent flyer mileage partnerships with its parent Japan Airlines.

The airline plans to expand its initial fleet of Airbus A320 aircraft to a total of 24 within the first few years of operation. Jetstar Japan will compete against Peach Aviation and AirAsia Japan in Japan’s domestic low-cost market.

Written by : William Sykes

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